Dollars and (Common) Sense: The Allowance

This week on Mom Talk, we're sharing about dollars and cents. The question of an allowance for the kids comes up sooner or later in every household. For some parents, it allows an early introduction to teaching your children about managing their money. On the other hand, it can become just a way for you to bribe the kids into doing their chores.

When did you first have the discussion of providing an allowance to your children? How old were they, and how did you know it was an appropriate time to start, and how much to provide? 

Do you expect your children to use it to save for purchases they would like to make for themselves? How do you regulate what they end up spending it on?

Share your tips, thoughts and stories in comments below and let's get the conversation started!